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1. Iconic cosmetics brand shuts down US operations

The Body Shop, a UK-based cosmetics company known for its natural, sustainable, and cruelty-free products, has officially ceased all operations in the United States and is set to close numerous Canadian stores as part of a bankruptcy filing....

2. Binance's Zhao, steps down as CEO

In a significant development for the cryptocurrency world, Changpeng Zhao, better known as CZ, has announced his resignation as the chief executive officer of Binance....

3. Elizabeth McCaul unveils hidden financial dangers

A strong signal highlighting the need for closer scrutiny of non-bank financial institutions comes from Frankfurt, as Elizabeth McCaul, a member of the European Central Bank's Supervisory Board, emphasizes the potential risks....

4. Crypto 'wonder boy' Sam Bankman-Fried convicted in $8 billion fraud

Sam Bankman-Fried, the former billionaire founder of FTX, a prominent cryptocurrency exchange, was found guilty on Thursday of orchestrating one of the most significant financial frauds in history....

5. Biden admin criticized as official resigns over Israel policy

A veteran US state department official has quit over what he described as the Biden administration’s “intellectual bankruptcy” in sending more weapons and ammunition to Israel, as Gaza health officials said Israeli bombing had killed more than 3,700 people....

6. Farewell to an icon: Legendary singer Tony Bennett passes away at 96

Renowned performer Tony Bennett, known for his unique interpretations of the "Great American Songbook," passed away on Friday at the age of 96....

7. 24-year old awarded $18.8M in lawsuit over talc-based baby powder

A 24-year-old man in California was awarded $18.8 million on Tuesday in his lawsuit against Johnson & Johnson, in which he blamed talc in the company's baby powder for giving him cancer....

8. Christodoulides certain he will be the next president of Cyprus

Presidential candidate, Nikos Christodoulides, has expressed certainty that he will be the winner of the elections, noting that he will seek to have meetings with Cyprus President, Nicos Anastasiades, and Democratic Party leader, Averof Neofytou, in view of the second round of the presidential elections that will take place on February 12....

9. More people choose bankruptcy to get a second chance

Bankruptcy applications, based on Law 4818/2021, are coming thick and fast from individuals with or without commercial activity, as they are unable to repay their debts to banks and insurance funds....

10. Hollywood executives brace for ‘year of turmoil’ in 2023

Hollywood executives are bracing for a brutal “year of turmoil” as the entertainment business faces the combined threat of an economic recession, slower streaming growth, a cinema industry on life support and a potential writers’ strike....

11. Economic events that will be remembered in 2022

The energy crisis, which intensified after Russia's invasion of Ukraine and resulted in skyrocketing gas prices, took the lead throughout the year....

12. Cyprus to extend FTX EU license suspension

Cyprus’ securities regulator plans to extend the suspension of the license of FTX EU and will meet to discuss the matter next week, a spokesperson said on Tuesday...

13. 'FTX-style crypto crash won’t happen in Europe'

The cryptocurrency world is reeling after the collapse of crypto exchange FTX — but EU policymakers are patting themselves on the back....

14. World's largest crypto exchange platform to set up shop in Cyprus

The FTX bankruptcy scandal a few weeks ago rocked the entire crypto world to its core, after its founder Sam Bankman-Fried, the "wonderboy" of the crypto trading world,...

15. 'The suspension of foreclosure sales is tragic for the country'

Bank of Cyprus CEO Panicos Nicolaou described Cyprus's decision to extend the suspension of divestments as "tragic."...

16. Investors lost $1 billion on FTX, prompting calls for industry regulation

The turmoil in the cryptocurrency world continues unabated following the bankruptcy of the FTX platform, which landed its founder, Sam Bankman-Freid, bankrupt almost overnight. ...

17. FTX's European operations suspended indefinitely

The company is taking a wait-and-see approach until further notice in order to deal with FTX International and the more than $8 billion hole it has created...

18. Twitter: Musk warns of the possibility of bankruptcy

19. Cypriot airlines dismiss rumors after Bloomberg article

Airlines operating out of the Republic of Cyprus reportedly have denied rumors that they could be going under, following trouble with Romanian Blue Air and a Bloomberg report warning about the island’s two carriers...

20. Yiorkio finds patron after years of rejection

Nicosia’s abandoned luxury hotel Yiorkio Residence has been sold to a group focusing on upscale living, with reports saying the bidder is shelling out €20 million to acquire one of Cyprus’ real estate puzzles...

21. What is Turkey up to?

This summer, for the first time in many years, the omens concerning Greek-Turkish relations are particularly gloomy. There are many objective reasons why Turkey causing a heated incident is not the most likely scenario;...

22. The end of an era as Revlon files for bankruptcy

The US cosmetics group Revlon has filed for bankruptcy protection after battling supply chain problems and failing to compete with celebrity-backed and social media-savvy upstarts....

23. Boris Becker faces jail term for failing to declare his millions

Three-time Wimbledon champion Boris Becker could be sent to jail today as he faces a sentence for flouting the terms of his 2017 bankruptcy....

24. Russian bank subsidiary in Europe collapses

While the Moscow Stock Exchange remains closed for a third straight day and the ruble is losing value inside and outside Russia, heading back to Monday's record low again, the ECB yesterday confirmed the first bankruptcy of a subsidiary in Europe caused by sanctions and massive withdrawals. ...

25. President Anastasiades warns over restrictions for unvaccinated persons

Cyprus President Nicos Anastasiades warned on Saturday over possible restrictions for unvaccinated persons, stating that some people should realize that they also have a social responsibility....

26. The eternal unfinished buildings in our cities

Driving in some areas of Cyprus, we can see some skeletal buildings that "stand" there abandoned for many years and it makes us wonder why they were left there to rot....

27. Hertz orders 100,000 Tesla cars

Hertz Global Holdings Inc., placed an order for 100,000 Teslas in the first step of an ambitious plan to electrify its rental-car fleet,...

28. ECB tells Cyprus lawmakers to get it right

Elizabeth McCaul, Member of the Supervisory Board of the ECB, advised caution over possible amendments to the Cyprus foreclosure law stressing that 'such policies can also backfire and destabilize the banking sector if designed in a haphazard manner'...

29. Bankrupt Cyprus Mines saga continues

Insurers who could be left footing the bill for personal injury litigation against former talc miner Cyprus Mines Corporation are challenging the company's proposed candidate to represent future tort claimants...

30. Cyprus Mines insolvency deal under scrutiny in US

Cyprus Mines Corporation which filed for bankruptcy in the United States following hundreds of asbestos lawsuits has rejected accusations that a committee representing claimants was acting in bad faith, but lawyers representing victims are calling on a judge to rework a deal under intense scrutiny...